As Webtoon Entertainment (WBTN), listed on the US Nasdaq market, surged, Suseong Webtoon’s stock price is also on the rise. Webtoon-related stocks such as D&C Media, YLAB, Kidari Studio, and Mr. Blue are all increasing simultaneously.
At 9:58 AM on the 23rd, Suseong Webtoon was trading at 602 won, up 4.15% from the previous day.
Suseong Webtoon’s IP division recently signed a contract with Naver Webtoon to supply two popular series currently serialized in South Korea. They plan to expand the webtoon supply to 17 titles in the future. The K-webtoon "Mat.Gim.Kkul: Matbon Gime Kkulkkuk" features a protagonist who is a chef, connecting with the K-food wave such as gimbap, raising expectations for success in North America.
Goldman Sachs and JP Morgan have recognized the growth potential of webtoons and provided optimistic analyses of Webtoon Entertainment’s performance. Goldman Sachs set a 12-month target price of $62 for Webtoon Entertainment. They analyzed that the business model, including webtoon advertising, has long-term growth potential. JP Morgan set a short-term target price of $23, evaluating an 18% annual sales growth potential until 2026 and a strategy to expand presence in the North American market as key drivers of future growth.
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